Lition is Now the First Ever P2P Exchange for Energy

Lition’s code involved empowering individuals once again. Using it’s blockchain platform to trade with renewable energy, the company plans on providing that service to the rest of the planet. The company plans on providing efficient transparency and self-maintenance into a system that has currently shut down by connecting customers to renewable energy companies on the blockchain.

Energy Trading

Lition is a qualified energy producer in Berlin and has spread its roots in eleven different cities in Germany, accumulating a bigger clientele for its platform. The exchange is already operating at its fullest and connected to over 40 million homes in the country. Skipping any need for a medium, the energy exchange is designed to produce cost-efficient energy bills for consumers while building more profits for power plants in the country. 

Since crypto-mining and other related activities have contributed to an unbelievable level of power consumption, providing energy to every corner of the world is incredibly tasking if not probable. Elite power production companies continue to overshadow the industry while procedures to transmit energy wherever needed is riddled with complexities which, when put together, ups the price on consumer usage despite possibly not knowing the source providing the energy. 

Lition’s exchange utilizes digital contracts based on blockchain technology and Internet of Things-tech to provide clear and welcoming access to several energy services. Services provided are based on how the energy is produced and its cost with the addition of consumption charges.

The platform is designed to be very easily accessible to consumers that retain full power and transparency in regards to their own supplies of renewable power and records of consumption. As a truly innovative way of providing cheap, clean and easily accessible energy, users on the platform can locate the lowest prices based on their needs through a simple and direct approach.

The Tech

The company’s state of the art blockchain-tech reduces any difficulties in purchasing renewable energy first-hand from its producers, no matter the level, through accessible digital contracts to completely bypass any difficulties faced by energy brokers and regulatory bodies anywhere the service is operational as well as any additional taxes.

By introducing small-time energy companies to their system and skipping past any complex procedures, the platform opens a path of restoring balance and minimizing larger companies from essentially monopolizing the energy industry. This method alone will ensure much cheaper services for consumers while guaranteeing the producer receives more profit.

Dr. Kyung-Hun Ha, the company’s Chief Operating Officer has stated that Lition’s mission is to empower consumers within the industry and deconstruct and overlord approach by giant corporations from completely dominating the energy sector. Through their technology and systems, the company aims to make that vision true.

Additionally, Dr. Richard Lohwasser, Chief Executive Officer of the company explains that his involvement in the energy distribution and production industry spans over a decade and that he has consistently seen big-time utility providers hike up the price even with large profits. He delves deeper and explains several tactics used by the dominant companies such as misleading information regarding how the energy is made from fossil fuels turned renewable energy. Given that the average consumer has no idea of how to monitor their energy production, Lition aims to change all of that with its revolutionary platform.

2 years ago

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